# Grim outlook for ringgit as govt bites the bullet

> Oanda's Stephen Innes said the ringgit could test 4.20 per US dollar by year-end and reach 4.30 next year if fiscal improvements do not materialise. He cited the risk of a Malaysian sovereign credit downgrade after Budget 2019 and a strong dollar, with the ringgit at 4.1768 on November 5.

- Date: 2018-11-07 · published 2018-11-07T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/62313-grim-outlook-for-ringgit-as-govt-bites-the-bullet
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A weaker ringgit trend raises Malaysian import costs and can support the ringgit price of palm oil exports. The outlook is a forecast rather than a new supply or demand shock.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-01-27 | [Despite Lack Of Domestic Catalysts Ringgit Outlook Bullish](https://feedsoft.ai/events/38042-despite-lack-of-domestic-catalysts-ringgit-outlook-bullish.md) | -1.9% | +2.1% |
| PALMOIL | 2024-08-02 | [Ringgit on Best Run in 14 Years as Malaysia’s Outlook Brightens](https://feedsoft.ai/events/29078-ringgit-on-best-run-in-14-years-as-malaysia-s-outlook-brightens.md) | -2.0% | +1.6% |
| PALMOIL | 2020-07-19 | [Headwinds for the Malaysian Ringgit Are Only Getting Stronger - Bloomberg](https://feedsoft.ai/events/52372-headwinds-for-the-malaysian-ringgit-are-only-getting-stronger-bloomberg.md) | +2.0% | +8.9% |
| PALMOIL | 2023-01-19 | [Malaysia growth will be key for ringgit this year: Trade Minister - The Business Times](https://feedsoft.ai/events/38046-malaysia-growth-will-be-key-for-ringgit-this-year-trade-minister-the-business.md) | -0.3% | -0.1% |
| PALMOIL | 2024-09-29 | [Ringgit set to go below 4.1 against US dollar and continue rising amid cautious outlook on US data](https://feedsoft.ai/events/28586-ringgit-set-to-go-below-4-1-against-us-dollar-and-continue-rising-amid-cautious.md) | +9.1% | +9.7% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2018/11/07/grim-outlook-for-ringgit-as-govt-bites-the-bullet/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.